Angel Oak Income ETF (NASDAQ:CARY) Sees Strong Trading Volume – Should You Buy?

Shares of Angel Oak Income ETF (NASDAQ:CARY) saw strong trading volume on Wednesday. 1,264,966 shares were traded during mid-day trading, an increase of 201% from the previous session’s volume of 420,165 shares. The stock last traded at $20.2450 and had previously closed at $20.22.

Angel Oak Income ETF Price Performance

The firm has a 50-day moving average of $20.42 and a 200 day moving average of $20.66.

Angel Oak Income ETF shares are set to reverse split on Monday, November 16th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 15th.

Angel Oak Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, October 1st. Investors of record on Wednesday, September 30th were issued a $0.1025 dividend. This is an increase from Angel Oak Income ETF’s previous monthly dividend of $0.0931. This represents a $1.23 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Wednesday, September 30th.

Hedge Funds Weigh In On Angel Oak Income ETF

Several large investors have recently bought and sold shares of CARY. Bank of America Corp DE boosted its stake in Angel Oak Income ETF by 103,779.5% during the 1st quarter. Bank of America Corp DE now owns 4,951,934 shares of the company’s stock worth $102,862,000 after acquiring an additional 4,947,167 shares during the last quarter. IFC Advisors LLC bought a new stake in shares of Angel Oak Income ETF in the first quarter worth about $61,717,000. Envestnet Asset Management Inc. raised its position in shares of Angel Oak Income ETF by 103.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,107,410 shares of the company’s stock worth $23,012,000 after purchasing an additional 563,831 shares during the period. Arkadios Wealth Advisors grew its position in shares of Angel Oak Income ETF by 13.7% in the 1st quarter. Arkadios Wealth Advisors now owns 3,562,484 shares of the company’s stock valued at $74,003,000 after purchasing an additional 428,745 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Angel Oak Income ETF during the 2nd quarter worth approximately $4,231,000.

Angel Oak Income ETF Company Profile

The Angel Oak Income ETF (CARY) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that aims for current income by broadly investing in USD-denominated fixed income securities with a tilt towards structured products and residential mortgage. Securities could be of any credit quality or maturity. CARY was launched on Nov 7, 2022 and is issued by Angel Oak.